They will attract the attention of those who want to enjoy the benefits of self-employment. We compared eight factors that affect quality. of life digital entrepreneur in 57 countries. The indicators for comparison were: cost of living, income tax, access to credit, average Internet speed, transportation, free Wi-Fi, the cost of a cup of coffee and loyalty to business.
Top Countries for Digital Entrepreneurial Business.
A dozen states in which it is easier for an individual digital entrepreneur to start an activity is as follows.
Hong Kong (1st place)
China’s Special Region is the best place for representatives of the modern digital business community. Hong Kong is the business capital of the world, ranked 15th in the Human Development Index (0.891). Come here if you are looking for investors for bold and not-so-ideas and an environment open to small business. This country offers a loyal income tax rate and creates favorable conditions for startups – in Hong Kong there are very favorable credit conditions.
The World Economic Forum recognizes the country’s transport infrastructure as the most developed in the world. This is an extremely important factor for modern entrepreneurship. Get from one end of the city to the other in half an hour? This is not a problem in Hong Kong.
USA and UK (2nd and 5th place)
In both countries “good” conditions have been created for independent business promotion. The United Kingdom is in the list of the top 20 countries in terms of Internet access and conditions for obtaining loans, as well as in the top 10 countries in which transport infrastructure works for ordinary people.
However, the USA in this confrontation justifies the title of “country of opportunity”. The Americans settled better than the British in almost all the indicators that we used to compile the rating. In the USA, an entrepreneur gets decent financing conditions, easy access to the World Wide Web (including free Wi-Fi).
South Korea (3rd place)
South Korea is one of the most democratically free states in the world with the highest standard of living. According to the Heritage Foundation, the republic ranks 17th in the world in terms of the human development index and is among the states with a predominantly free economy. South Korea is at the forefront of technological and advanced countries with high-quality transport infrastructure. A cup of coffee in Seoul costs 200-270 rubles.
UAE (4th place)
The United Arab Emirates, in a sense, is the center of the world, gathering together the best financial, technological and human resources. The Heritage Foundation considers the UAE a state with excellent conditions for free trade, taxation and “financial health”. Of course, life in the Emirates is not cheap, but the broad prospects for free enterprise more than cover this disadvantage..
Spain (6th place)
When studying Spain as a bridgehead for digital activities, take a look at the low cost of living by European standards and inexpensive coffee. The advantages of the kingdom also include free access to the Internet and transport infrastructure..
New Zealand (7th place)
New Zealand is one of the most well-managed and stable countries on Earth, with a strong economy. The key principle of government here is to ensure economic and social well-being. New Zealand is in the top ten countries for the absence of corruption, the strength of democratic institutions, economic freedom and the human development index.
Bulgaria, Czech Republic, Estonia (8-10th place)
Let’s go east! Eastern European and Baltic countries provide more and more opportunities for people seeking independent employment. Although these states are not in the forefront in terms of GDP, HDI and IES (index of economic freedom), they offer an optimal ratio of living costs to business prospects. Those who cannot imagine life and work without coffee should choose Bulgaria.
Worst countries to run an independent business
1. Uruguay.
2. Argentina.
3. Israel.
4. Philippines.
5. Ecuador.
6. Slovenia.
7. Costa Rica.
8. Ireland.
9. Belgium.
10. Peru.
The list of countries with difficult conditions for digital private enterprise includes almost all of South and Central America. Uruguay, Argentina, Ecuador, Costa Rica and Peru lag behind world-class Internet speed and transport infrastructure efficiency. The World Bank defines them as unsuitable for an easy business start. This means that start-up entrepreneurs are likely to encounter great difficulties in the early years of their activities..
Israel, the Philippines and Slovenia, in spite of their relatively stable economies, do not offer start-up entrepreneurs favorable credit and tax conditions. This is especially true of the digital business. Negative factors could be outweighed by low living costs and advanced infrastructure, but here countries are far from ideal.
Belgium and Ireland could be a good haven for the digital entrepreneur and. These states create high-quality infrastructure for the development of human and entrepreneurial potential. In addition, there is no problem with inexpensive and affordable Internet access. However, the average cost of living and high tax rates are significant obstacles to the quick start of your own business..
Of course, this rating cannot be considered ideal and accurate. The implementation of various projects requires giving priority to one factor and ignoring others. Perhaps you just do not like coffee or do not need loyal loans. In this case, your project will have its own favorites in this list. However, it is unlikely that business incubators such as Hong Kong, the USA, South Korea and New Zealand will be able to crowd out.
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